Indian benchmark sensex finishes second

As per a study by Bloomberg, India’s S&P BSE Sensex finished as the world’s best performing benchmark amongst countries with a stock market value of at least $1 trillion. It jumped by 11% this quarter. The comparison was drawn between 108 members, India’s country weight stands at 14.483% at the end of august. This exceeds that of Taiwan’s 14.480% albeit by a very small margin and is only behind China which continues to dominate the markets with a about 33% of the index weighting. This performance has been possible because of a sharp rebound in Indian stocks this quarter. Rakhi Prasad, an investment manager at Alder Capital noted that “Economic impact of China’s lockdown and the zero-covid policy is being seen now, while India is emerging stronger, month-by-month,”. In Early 2020 and October 2021, the Indian stocks performed exceptionally well on the back of the pandemic-driven retail investing boom. However, the chances of the Federal Reserve hiking the rates dissuaded the foreign investors to withdraw a record $33 billion from local shares in the nine months through June.